Commerce’s Lutnick: Trump’s goal is to eliminate income tax on those making less that $150K

by WorldTribune Staff / 247 Real News March 13, 2025

President Donald Trump’s goal is to eliminate taxes for individuals earning less than $150,000 per year, Commerce Secretary Howard Lutnick said.

Commerce Secretary Howard Lutnick

In a Thursday interview with CBS News, Lutnik shared Trump’s tax objective. “I know what his goal is… no tax, for anybody who makes less than $150,000 a year. That’s his goal. That’s what I’m working for.”

“How about no tax on tips? How about no tax on overtime? How about no tax on Social Security? How about all those things,” Lutnick said.

“These policies are the most important thing America has ever had… The only reason there could possibly be a recession is because of the Biden nonsense we had to live with. These policies generate revenue. They drive growth. They lead to factories being built here,” he stated.

Asked about the deficit and debt caused by tax cuts, Lutnick asserted that “other people” — not Americans — would cover the cost of government spending. He argued that overseas tax evasion was depriving the U.S. of significant revenue and suggested that curbing these practices could boost the nation’s fiscal income while enabling tax cuts for American citizens.

In February, the Republican-led House of Representatives approved Trump’s $4.5 trillion tax cut plan as part of a broader bill addressing immigration, trade, and defense spending. The bill now moves to the Senate for a vote.

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